Summit Trail Advisors LLC Grows Stock Position in Ameriprise Financial, Inc. (NYSE:AMP)

Summit Trail Advisors LLC boosted its holdings in shares of Ameriprise Financial, Inc. (NYSE:AMP) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 825 shares of the financial services provider’s stock after acquiring an additional 189 shares during the period. Summit Trail Advisors LLC’s holdings in Ameriprise Financial were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMP. Dimensional Fund Advisors LP grew its holdings in Ameriprise Financial by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,129,632 shares of the financial services provider’s stock valued at $482,588,000 after buying an additional 110,319 shares during the last quarter. Legal & General Group Plc lifted its holdings in Ameriprise Financial by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 823,249 shares of the financial services provider’s stock valued at $351,685,000 after purchasing an additional 11,060 shares in the last quarter. AGF Management Ltd. lifted its holdings in Ameriprise Financial by 35.4% in the 2nd quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of Ameriprise Financial by 3.9% during the 2nd quarter. Epoch Investment Partners Inc. now owns 458,565 shares of the financial services provider’s stock worth $195,894,000 after purchasing an additional 17,312 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Ameriprise Financial by 25.3% during the second quarter. Federated Hermes Inc. now owns 427,986 shares of the financial services provider’s stock worth $182,831,000 after buying an additional 86,315 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 0.7 %

Shares of AMP stock opened at $574.12 on Wednesday. Ameriprise Financial, Inc. has a 1 year low of $345.43 and a 1 year high of $577.00. The firm has a market capitalization of $55.70 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.00 and a beta of 1.34. The stock has a fifty day moving average of $514.51 and a two-hundred day moving average of $460.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.65 and a current ratio of 0.65.

Ameriprise Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were given a $1.48 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $5.92 dividend on an annualized basis and a yield of 1.03%. Ameriprise Financial’s dividend payout ratio is presently 22.73%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMP shares. Morgan Stanley lifted their price objective on Ameriprise Financial from $440.00 to $502.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada lifted their price target on shares of Ameriprise Financial from $535.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods upped their price objective on Ameriprise Financial from $475.00 to $510.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Finally, UBS Group lifted their target price on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Ameriprise Financial currently has an average rating of “Hold” and a consensus price target of $487.67.

Insider Buying and Selling at Ameriprise Financial

In other Ameriprise Financial news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $442.07, for a total value of $3,846,009.00. Following the sale, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 39.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Walter Stanley Berman sold 8,655 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $564.16, for a total transaction of $4,882,804.80. Following the transaction, the chief financial officer now owns 6,409 shares of the company’s stock, valued at approximately $3,615,701.44. This trade represents a 57.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,415 shares of company stock valued at $15,829,445. Company insiders own 0.96% of the company’s stock.

Ameriprise Financial Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.